Snoopy once sagely observed that “the anticipation far exceeded the actual event.”

From all indications, the beagle’s cynical view is likely to describe the reaction of the digital cognoscenti when the iPhone 5 appears about a month from now. Indications are, iPhone 5 will actually be more an iPhone 4S, a minor upgrade in screen size, antenna and design, with few significant improvements.

And probably no 4G.

Which means the next iteration of the iPhone, once the technological master of the smart phone universe, is likely to be nowhere near the top of the today’s most innovative phones. Yet we’ll be treated to the usual Apple hoopla and subsequent huge sales, perhaps huger than any iPhone before it.

How huger? An RBC/Changewave survey has found 31 percent of respondents either “very likely” or “somewhat likely” to buy an iPhone 5, five percent more than a similar survey preceding the introduction of the then highly-anticipated iPhone 4 more than a year ago.

It seems Apple has discovered an interesting phenomena: iPhone not only doesn’t have to be cutting edge, it’s better if it isn’t.